iphone2?

No one knows when. It could be at the end of the year....maybe sooner! 😉

If you want it or need it now, get it now.

Your option to wait but you may be waiting a while - a year or maybe longer if delayed for whatever reason or it may be sooner but no one knows and Apple does not release such information ahead of time. As soon as the 2nd generation iPhone is released, you can bet that a new and improved or 3rd generation iPhone will already be in the works. The same with computers - the next latest and greatest is always in the works or right around the corner.

The only thing we know for certain is the 2nd generation iPhone will be 3G but if you don't live in an area where AT&T has 3G network coverage, it won't make any difference since a 3G iPhone will connect via EDGE when 3G network access is not available.

The speed of EDGE i believe.

Yes 3G is significantly faster than EDGE and also allows for placing and receiving calls while connected to and actively accessing a 3G network which is a limitation with EDGE.

Although AT&T's 3G network is available in most of their major metropolitan areas and some additional non-major metropolitan areas and reportedly is being expanded to additional areas, it is far from covering anywhere close to their entire geographic area of coverage and probably won't be anytime soon. So unless you live in a 3G network coverage area, a 3G iPhone will not give you any additional benefits in regards to internet connection speed. A 3G iPhone will connect via EDGE when 3G network coverage is not available.

Try a Google search with 3G and EDGE for more information available than you probably care to know about.